BlackBerry Limited (NYSE:BB) Insider Mattias Eriksson Sells 12,680 Shares

BlackBerry Limited (NYSE:BB) insider Mattias Eriksson sold 12,680 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $4.00, for a total value of $50,720.00. Following the completion of the sale, the insider now owns 278,306 shares in the company, valued at $1,113,224. The trade was a 4.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Mattias Eriksson also recently made the following trade(s):

• On Thursday, January 2nd, Mattias Eriksson sold 14,475 shares of BlackBerry stock. The stock was sold at an average price of $3.68, for a total value of $53,268.00.

BlackBerry Trading Up 0.2 %

Shares of BB stock opened at $4.07 on Friday. BlackBerry Limited has a fifty-two week low of $2.01 and a fifty-two week high of $4.35. The firm has a market capitalization of $2.41 billion, a P/E ratio of -16.28 and a beta of 1.30. The stock’s fifty day moving average is $2.92 and its two-hundred day moving average is $2.58. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.44.

BlackBerry (NYSE:BB) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. BlackBerry had a negative net margin of 21.66% and a negative return on equity of 3.38%. The firm had revenue of $143.00 million for the quarter, compared to analyst estimates of $144.84 million. During the same period in the previous year, the business posted $0.01 earnings per share. BlackBerry’s quarterly revenue was down 5.9% on a year-over-year basis. Research analysts expect that BlackBerry Limited will post -0.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BlackBerry

A number of institutional investors have recently added to or reduced their stakes in the stock. EP Wealth Advisors LLC acquired a new stake in shares of BlackBerry in the 2nd quarter worth $28,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of BlackBerry by 83.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock valued at $29,000 after purchasing an additional 5,349 shares during the period. Quantinno Capital Management LP acquired a new stake in BlackBerry during the third quarter worth about $38,000. International Assets Investment Management LLC raised its stake in BlackBerry by 60.7% during the third quarter. International Assets Investment Management LLC now owns 20,769 shares of the company’s stock worth $540,000 after purchasing an additional 7,842 shares during the period. Finally, Signaturefd LLC boosted its holdings in BlackBerry by 65.5% in the 3rd quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock valued at $60,000 after purchasing an additional 9,063 shares during the last quarter. Hedge funds and other institutional investors own 54.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BB. Royal Bank of Canada boosted their target price on shares of BlackBerry from $3.00 to $3.25 and gave the company a “sector perform” rating in a research note on Tuesday, December 17th. Robert W. Baird upped their price objective on shares of BlackBerry from $3.00 to $3.50 and gave the stock a “neutral” rating in a research report on Friday, December 20th. Canaccord Genuity Group raised their target price on BlackBerry from $2.80 to $3.00 and gave the company a “hold” rating in a research report on Friday, December 20th. TD Securities raised BlackBerry from a “hold” rating to a “buy” rating and upped their price target for the stock from $3.25 to $4.00 in a report on Friday, December 20th. Finally, CIBC raised their price objective on BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a report on Thursday, October 17th. Six research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, BlackBerry currently has a consensus rating of “Moderate Buy” and a consensus target price of $3.60.

About BlackBerry

BlackBerry Limited provides intelligent security software and services to enterprises and governments worldwide. The company operates through three segments: Cybersecurity, IoT, and Licensing and Other. The company offers CylanceENDPOINT, an integrated endpoint security solution; CylanceGUARD, a managed detection and response solution; CylanceEDGE, an AI-powered continuous authentication zero trust network access solution; CylanceINTELLIGENCE, a contextual cyber threat intelligence service; BlackBerry Dynamics offers a development platform and secure container for mobile applications; BlackBerry Workspaces a secure Enterprise File Sync and Share (EFSS) solution; BlackBerry Messenger (BBM) Enterprise, an enterprise-grade secure instant messaging solution for messaging, voice and video; BlackBerry SecuSUITE is a certified, multi-OS voice and text messaging solution; BlackBerry AtHoc, a secure networked critical event management solution; and BlackBerry unified endpoint management (UEM) solutions.